Question

Jason works at a call center for an insurance company called ABF, and he has been answering calls regarding auto insurance. Recently, he started to attend a training program about home insurance. Upon successful completion of this training program, Jason will be able to handle home insurance questions and queries as well. Jason now will get in addition to his base salary a medical insurance, vacations, day care assistance, and spot bonus. ABF does not employ highly experienced and knowledgeable employees. It gives employee the minimal required training only. However, it rewards employees for partially or completely attaining a predetermined work objective.

ABF compensation managers or staff employees such as compensation generalists and HR specialists use job evaluation to recognize differences in the relative worth of jobs and attracting and retaining the most qualified employees based upon market and compensation surveys. However, line employees are directly involved in producing goods and delivering services for a company. Employees, customers, and suppliers are considered stakeholders because they have direct interest within the company.

Cash and equipment such as a buildings and machines are examples of which of the following? *

A) non liquid assets

B) organizational structure

C) capital

D) liquid assets

Which of the following group is a stakeholder within a company? *

A) Equal Employment Opportunity Commission

B) Department of Labor

C) prospective employees

D) line managers

This is a required question

This group is directly involved in producing goods and delivering services for a company. *

A) staff employees

B) line employees

C) managers

D) executives

These compensation systems go a long way in attracting and retaining the most qualified employees and are based upon market and compensation surveys. *

A) internally consistent compensation systems

B) market-competitive pay systems

C) job evaluation compensation systems

D) externally consistent compensation systems

Which type of professional is involved in the compensation functions such as building job structures, market competitive pay systems, and merit pay structures? *

A) compensation generalist

B) HR specialist

C) compensation specialist

D) HR generalist

What do compensation managers use to recognize differences in the relative worth of jobs and to establish pay differentials based upon management priorities? *

A) job evaluation

B) internal consistency

C) job analysis

D) strategic analysis

What type of pay system rewards employees for partially or completely attaining a predetermined work objective? *

A) seniority pay

B) merit pay

C) incentive pay

D) skill-based pay

Answer 1

So, we can choose the correct optons from the information available:

i) Cash and equipment are examples of capital, liquid assets imply to cash, non-liquid assets are assets which cant be converted quickly to cash, and organizational structure is a system which defines the hiearchy within an organization. So, correct answer is option C.

ii) Only employees, suppliers and suppliers are considered to be the stakeholders in a company. A line manager who is an employee who manages other employees and reports to a higher ranking manager. So, the correct answer is option D

iii) Line employees are directly involved producing goods and delivering services of a company. So, the correct answer is option B.

iv) The correct answer is job evaluation compensation systems, i.e. option C.

v) Compensation managers and staff employees such as compensation generalists is the type of professional being discussed over here. So, the correct answer is option A.

vi) Job Evaluation is used by compensation managers. So, the correct answer is option A.

vii) The answer is merit pay, so the correct answer is option B.